FinObservatory

Crisis atlas / NGA

Nigeria

39 distinct crisis events in 5 episodes, 1950–2016, from the union of five primary chronologies.

Debt profile: government debt trajectory and crisis-start levels →

14
Banking crises
14
Currency crises
11
Sovereign debt crises
39
Crisis events
1950–2016
Span

Crisis timeline

Every distinct (year, type) event, most recent first, with the chronologies flagging it. Start-year sources (GMD, JST) do not mark continuation years, so long episodes show lower agreement after their first year.

  1. 2016
    Currencygmd, laeven_valencia2 sources
    Bankingrr1 source
  2. 2015
    Bankingrr1 source
  3. 2014
    Bankingrr1 source
  4. 2013
    Bankingrr1 source
  5. 2012
    Bankinglaeven_valencia, rr2 sources
  6. 2011
    Bankinglaeven_valencia, rr2 sources
  7. 2010
    Bankinglaeven_valencia, rr2 sources
  8. 2009
    Bankinggmd, laeven_valencia, rr3 sources
  9. 2005
    Sovereign debtrr1 source
  10. 2004
    Sovereign debtrr1 source
  11. 1999
    Currencyrr1 source
  12. 1997
    Currencygmd, laeven_valencia2 sources
    Bankingrr1 source
  13. 1995
    Bankinglaeven_valencia, rr2 sources
  14. 1994
    Sovereign debtrr1 source
    Bankinglaeven_valencia, rr2 sources
  15. 1993
    Sovereign debtrr1 source
    Bankinglaeven_valencia, rr2 sources
  16. 1992
    Sovereign debtgmd, laeven_valencia, rr3 sources
    Currencyrr1 source
    Bankinglaeven_valencia, rr2 sources
  17. 1991
    Sovereign debtrr1 source
    Bankinggmd, laeven_valencia, rr3 sources
  18. 1990
    Sovereign debtrr1 source
    Currencyrr1 source
  19. 1989
    Sovereign debtrr1 source
    Currencygmd, laeven_valencia, rr3 sources
  20. 1988
    Sovereign debtrr1 source
    Currencyrr1 source
  21. 1987
    Sovereign debtrr1 source
    Currencyrr1 source
  22. 1986
    Currencyrr1 source
  23. 1985
    Currencyrr1 source
  24. 1983
    Sovereign debtgmd, laeven_valencia2 sources
    Currencygmd, laeven_valencia2 sources
  25. 1981
    Currencyrr1 source
  26. 1973
    Currencyrr1 source
  27. 1950
    Currencygmd, rr2 sources

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Macro context around each episode

Inflation, central-bank policy rate, and government debt in a window of five years either side of each crisis episode (consecutive crisis years bridged across gaps of up to two years). Crisis years shaded.

1950

Currency
Inflation (% y/y)
02.557.5194519501955
Policy rate (%)
No data for this window
Govt debt (% of GDP)
No data for this window

1973

Currency
Inflation (% y/y)
-50050100196819731978
Policy rate (%)
No data for this window
Govt debt (% of GDP)
051015196819731978

1981–1999

CurrencySovereign debtBankingoutput loss 0.0% of GDP (Laeven-Valencia 2026)
Inflation (% y/y)
0255075197619812004
Policy rate (%)
01020197619812004
Govt debt (% of GDP)
0255075197619812004

2004–2005

Sovereign debt
Inflation (% y/y)
01020199920042010
Policy rate (%)
01020199920042010
Govt debt (% of GDP)
0204060199920042010

2009–2016

BankingCurrencyFiscal cost 11.8% of GDP, output loss 14.0% of GDP (Laeven-Valencia 2026)
Inflation (% y/y)
01020200420092021
Policy rate (%)
051015200420092021
Govt debt (% of GDP)
0102030200420092021

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) Inflation is % year over year; policy rate is the central-bank rate in %; government debt is % of GDP. Methodology